Schwab Charles Investment Management Inc. lifted its position in shares of ScanSource, Inc. (NASDAQ:SCSC) by 5.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 285,462 shares of the industrial products company’s stock after purchasing an additional 14,381 shares during the quarter. Schwab Charles Investment Management Inc. owned 1.12% of ScanSource worth $12,461,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in shares of ScanSource by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 2,974 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 446 shares during the period. SG Americas Securities LLC lifted its position in shares of ScanSource by 12.0% during the 2nd quarter. SG Americas Securities LLC now owns 4,768 shares of the industrial products company’s stock valued at $192,000 after buying an additional 509 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of ScanSource during the 2nd quarter valued at approximately $221,000. Palouse Capital Management Inc. purchased a new position in shares of ScanSource during the 3rd quarter valued at approximately $226,000. Finally, Airain ltd purchased a new position in shares of ScanSource during the 2nd quarter valued at approximately $235,000. 94.35% of the stock is currently owned by institutional investors and hedge funds.

ScanSource, Inc. (NASDAQ SCSC) opened at $35.05 on Wednesday. ScanSource, Inc. has a 52-week low of $33.55 and a 52-week high of $45.35. The stock has a market capitalization of $893.46, a P/E ratio of 15.24, a PEG ratio of 3.92 and a beta of 1.03. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.08 and a current ratio of 1.94.

ScanSource (NASDAQ:SCSC) last announced its quarterly earnings data on Monday, November 6th. The industrial products company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.02). The firm had revenue of $924.56 million during the quarter, compared to analysts’ expectations of $966.20 million. ScanSource had a net margin of 1.65% and a return on equity of 8.78%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.68 EPS. analysts expect that ScanSource, Inc. will post 2.98 earnings per share for the current fiscal year.

SCSC has been the topic of a number of recent analyst reports. ValuEngine upgraded ScanSource from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded ScanSource from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Friday, September 1st. Northcoast Research lowered ScanSource from a “buy” rating to a “neutral” rating in a research report on Monday, October 2nd. TheStreet lowered ScanSource from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. Finally, BidaskClub lowered ScanSource from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. ScanSource has an average rating of “Hold” and an average price target of $45.75.

In other ScanSource news, CEO Michael L. Baur sold 13,700 shares of the firm’s stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $43.94, for a total value of $601,978.00. Following the transaction, the chief executive officer now owns 35,209 shares in the company, valued at approximately $1,547,083.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael L. Baur sold 17,621 shares of the firm’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $44.32, for a total value of $780,962.72. Following the completion of the transaction, the chief executive officer now owns 35,209 shares in the company, valued at approximately $1,560,462.88. The disclosure for this sale can be found here. Insiders sold a total of 81,321 shares of company stock worth $3,588,984 in the last 90 days. 2.35% of the stock is currently owned by insiders.

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About ScanSource

ScanSource, Inc is a provider of technology products and solutions. The Company and its subsidiaries provide solutions for technology manufacturers and sell to resellers in technology markets, such as point-of-sale (POS) and Barcode, Networking and Security, Communications and Emerging Technologies. It operates through two segments: Worldwide Barcode & Security and Worldwide Communications & Services.

Institutional Ownership by Quarter for ScanSource (NASDAQ:SCSC)

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